Bullish indicating open at $55-$60, IPO prices at $37
LONDON - Venture Life Group PLC (AIM:LON:VLG) reported an 18.9% increase in revenue to £26.6 million for its continuing operations in 2024, while announcing a binding agreement to sell its contract development and manufacturing operations to BioDue S.p.A for €62 million in cash.
The consumer healthcare company saw its gross profit from continuing operations rise 31.1% to £12.2 million, with gross margin improving to 45.8% from 41.6% in 2023. Adjusted EBITDA increased 26.1% to £6.2 million, representing a margin of 23.2%.
The company’s online revenue grew 49% to £5.0 million, now representing 18.7% of group revenue, up from 14.7% in the previous year. Venture Life achieved 58 new listings across UK retail and increased its UK distribution points by 14.6%.
In November 2024, Venture Life acquired Health and Her Ltd, which contributed £0.8 million in revenue and £0.1 million in adjusted EBITDA post-completion.
The company’s discontinued operations, which include the CDMO activities and certain non-core products being sold to BioDue, saw revenue decline 14.3% to £24.9 million in 2024.
According to the press release, Venture Life is also actively marketing its oral care brands for sale, with the Board expecting a transaction to be completed before the end of 2025.
The sale of the CDMO operations to BioDue is on track for completion in July 2025, following Foreign Direct Investments approval in Italy. The company has already received FDI approval in Sweden.
CEO Jerry Randall stated that the divestment "will precipitate on completion a significant amount of cash to invest in business growth."
The company’s net debt increased to £18.7 million at year-end 2024, up from £13.7 million in 2023, following the Health and Her acquisition. However, Venture Life reported that its net leverage had reduced to 1.60x by May 31, 2025, with plans to pay down its debt facility in full upon completion of the CDMO sale.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.